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Instead of owing money, theyll automatically receive aspecial payment of up to $1,400.
You might be part of this group if you didnt claim the Recovery Rebate Credit on your 2021tax return.
Keep reading to learn is entitled to this payment and why theyre receiving it.
Either way, you wont have to wait long to find out.
Those eligible should receive their payment by late January 2025.
Additionally, if you havent filed your 2021 tax returns, you could still be eligible for this payment.
Youll need to file and claim the Recovery Rebate Credit by April 15, 2025.
3 Smart Ways To Spend Your Unexpected Stimulus Check
Getting an unexpected financial windfall is exciting.
While enjoyable in the moment, these purchases might not be themost financially responsible move.
Over time, this may allow you to save hundreds or even thousands of dollars in interest.
Generally speaking, experts recommend having three to six months of living expenses in your emergency fund.
This payment likely wont be enough to cover that, but it can serve as a solid start.
Invest It
Cash in on the power of compound interest by investing your money.
This allows you to earn interest on both the money you save and your earned interest.
it’s possible for you to open a variety of accounts to start taking advantage of compound interest.
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